Enbridge (NYSE:ENB) Trading 1.1% Higher – Time to Buy?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was up 1.1% during mid-day trading on Monday . The stock traded as high as $43.99 and last traded at $43.73. Approximately 1,008,694 shares were traded during trading, a decline of 77% from the average daily volume of 4,431,879 shares. The stock had previously closed at $43.24.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada lifted their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Citigroup began coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Finally, CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Stock Up 1.8 %

The firm has a market capitalization of $95.93 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The business has a 50 day moving average of $43.14 and a 200 day moving average of $42.67. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the company posted $0.64 EPS. On average, equities analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Hedge Funds Weigh In On Enbridge

Hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Enbridge in the fourth quarter valued at $909,415,000. Arrowstreet Capital Limited Partnership increased its position in shares of Enbridge by 396.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock worth $510,816,000 after purchasing an additional 9,621,425 shares in the last quarter. Blackstone Inc. lifted its holdings in Enbridge by 650.7% during the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company’s stock valued at $242,619,000 after purchasing an additional 4,956,379 shares during the last quarter. Deutsche Bank AG grew its stake in Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock worth $1,541,745,000 after buying an additional 4,426,684 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Enbridge during the fourth quarter worth approximately $180,941,000. 54.60% of the stock is owned by institutional investors and hedge funds.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.